Real Estate Leaders: You Need to Understand Artificial Intelligence

by | Feb 17, 2020 | Artificial Intelligence [AI] | 0 comments

Artificial Intelligence is disrupting a number of traditional industries, commercial real estate included. If you consider yourself a leader in the commercial real estate industry, having an in-depth knowledge of new AI tools and how they can improve or aid business objectives is critical. Here’s why AI matters, and how it can impactfully take your investment and business potential to the next level.

Finding the Right AI Solution

Commercial Real Estate execs have the hard task of figuring out exactly which AI solution is right for their business. Keep these crucial points from Propmodo in mind when you want to deliver results.

  1. Find out if AI is right for you. AI shouldn’t be the end and only goal. Instead, take a look at your business objectives and determine if AI is the best technology for achieving those objectives.
  2. Identify which AI solutions align with your needs. AI can be utilized both peripherally and for core business objectives, according to Propmodo. Your organization might have specific needs – identifying these necessities is crucial in business performance.
  3. Make sure your AI partner understands your business. There is no one-size-fits all model for Artificial Intelligence and its implementation to your business. Your specific business model needs to be studied and understood before AI integration takes place.
  4. AI is built to affect your bottom line, and well. You shouldn’t see mere incremental improvements when efficiency and automation through AI is the objective. Propmodo states implementation should cause relevant business values (like KPIs) to jump through the roof.
  5. See where AI can help operations. Yes, AI needs to bring quantifiable improvements to your business goals. However, strategize where you can make impacts in other places, too, like normal business operations.

Understanding exactly how AI can affect your bottom line and increase business potential is the key to implementation. Now more than ever, real estate leaders in the industry need to develop and curate new knowledge and tools to apply to business objectives from the ground up. Are you ready for AI? By sourcing authentic AI technology, CREs can develop a better understanding of the real estate market than ever thought possible.